Philippines food and drinks group Monde Nissin, which owns the UK-based Quorn Foods business, is said to be exploring a potential initial public offering in Manila that could raise as much as US$1bn.
News agency Bloomberg, citing unnamed sources, said Monde Nissin, which also counts the Lucky Me! instant noodle line in the Philippines among its brands, has been discussing plans for a first-time share sale with potential advisers and that a listing could happen this year.
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But Bloomberg pointed out its sources said deliberations on the prospective move are at an early stage and the company may decide not to proceed with a listing.
Monde Nissin declined to comment when contacted by the news agency.
The company, which also sells biscuits and baked goods, exports to more than 40 countries. It acquired meat-free protein business Quorn Foods for GBP550m (US$831.2m at the exchange rate at the time) in 2015.
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